For carriers without effective fraud prevention solutions, rising 'card not present' fraud means either a disproportioned allocation of scarce resources or simply suffering the losses
Arlington, VA (PRWEB) June 10, 2010
As the world's larger airlines effectively employ the latest technology to combat credit card fraud through their direct sales channel, carriers lacking similar resources increasingly find themselves the target of fraud. "For carriers without effective fraud prevention solutions, rising 'card not present' fraud means either a disproportioned allocation of scarce resources or simply suffering the losses," says Dottie Hogan, ARC's director of risk management. "This is not acceptable. In response, ARC is developing a premier fraud prevention solution for all carriers whose scarce resources have increasingly made them targets," adds Hogan.
ARC Sentinel powered by Accertify is an effective fraud prevention solution for all carriers. It leverages ARC's economies of scale as well as industry-leading data and fraud analysis resources combining these with the expertise of Accertify, a leader in preventing online fraud and mitigating enterprise-wide risks. The joint fraud prevention solution employs a shared adaptation of Accertify's Interceptas platform which has already proven to prevent tens of millions of dollars in fraudulent bookings for a growing number of individual carrier users.
The fraud prevention solution being developed and targeted for availability in the coming year will provide the following benefits:
- Reduce overall carrier fraud costs
- Less time spent reviewing transactions as a result of automated search and rules engine
- Quick review of at risk transactions - Riskier transactions prioritized using online tool access
- Increase positive sales
- Drastic reduction in credit card chargebacks - Experience shows chargeback reduction may be greater than 70%*
- More efficient use of scarce resources - as many as 35% fewer fraud prevention resources needed
- Shared benefit from ARC's economies of scale
- ARC managed fraud rules engine reduces carrier costs
- Easy-to-use visual interface providing dashboard-type analysis
- Based on early data reported by a carrier using the model application for ARC Sentinel powered by Accertify.
"Accertify has deep experience in combating e-commerce fraud across multiple market segments and geographic locations for global carriers," said Michael Long, Accertify's chief product strategist. "We are excited to join forces with an industry-leading innovator like ARC to make our multi-layered, best-in-class fraud-fighting platform accessible for carriers of all sizes".
ARC-participating airlines are encouraged to learn more about ARC Sentinel powered by Accertify by contacting their ARC representative or ARC Sales at +1 703.816.8007 / email Sales(at)arccorp(dot)com . ARC Sentinel powered by Accertify will also be featured June 15-17 at the 2010 ARC Carrier Information & Global Fraud Prevention Forum in Las Vegas, NV.
About ARC - ARC is a technology solutions company providing transaction settlement and data information services.
Airlines, travel agencies, corporate travel departments, railroads, and other travel suppliers process up to $70 billion annually through ARC's world-class settlement system, making it the financial backbone of travel distribution. ARC COMPASS®, the leading, trusted source for travel transaction information, powers data and analytical tools that help ARC customers make confident business decisions. For more information, please visit http://www.arccorp.com.
Accertify Inc. is a leader in providing e-commerce companies with software, tools and strategies for preventing online fraud and mitigating enterprise-wide risks. Our Interceptas platform integrates every component of fraud prevention, applies state-of-the-art automation to each step in process and offers advanced capabilities for managing fraud data. Built with a merchant's perspective, Interceptas delivers unparalleled flexibility in preventing various types of criminal behavior, including fraud related to card-not-present purchases, online scams and policy abuse, merchandise returns and exchanges and other data management challenges. Accertify is committed to providing online companies with the most cost-effective solution to fraud available. For more information, visit http://www.accertify.com.